The Bengaluru – based edutech startup, XSEED has secured Singapore $10 million (INR 67.5 crores) fund from Verlinvest, a Belgium family – owned, consumer – sector focused Investment Company. XSEED has secured this amount of investment in Series B round of funding from Verlinvest. XSEED will use the fund, secured in this round of investment, to scale its technology platform (mobile app) and reach out to ten million children in India and abroad. This is the first time that Verlinvest has invested in the education sector. Prior to this, it was focused on investing in the FMCG, alcohol and packaged food sectors. Read more on Investments
“We believe there is a great potential to improve early education in India and XSEED addresses this with a compelling proposition”, said Frederic de Mevius, chairman of Verlinvest.
Frederic de Mevius said Verlinvest’s executive director; Nicholas Cator will join XSEED’s board of directors (BoD). XSEED was founded by Harvard alumnus, Ashish Rajpal in 2008. The firm provides curriculum design, teacher training and school management upto class eight. It claims to be educating one million children in eight countries through its five – step curriculum – cum – training based program.
Education is the backbone of any country. Today’s students are tomorrow’s doctors, engineers, journalists, policemen, politicians etcetera. It is vital that every country provides fundamental education to its citizens for the sake of progress and peace in the country. It is a matter of pride for India that an Indian, who had graduated from the world’s best university, Harvard, is successfully running an edutech startup and helping to educate millions of young children around the world through XSEED’s mobile app. A Singaporean company investing millions of dollars on an Indian edutech startup is another matter of pride for India. Edutech startups enhance the learning of children around the world, through their up – to – date and interactive mobile apps. Their mobile apps contain fun learning activities and interactive software which provide step – by – step guidance on children’s lessons and make learning fun for children. The Government of India should fund and promote more of such useful and innovative startups. Read more on Startup News
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